Alcohol, Covid-19, Good for Business, Latvia, Markets and Companies

International Internet Magazine. Baltic States news & analytics Sunday, 05.07.2020, 19:51

The sales of spirits around the world increasing during Covid-19

BC, Riga, 02.06.2020.Print version
During the Covid-19 crisis, the sales of spirits around the world are increasing, Intars Geidans, the chairman of the board of the Latvian alcoholic beverage producer Latvijas Balzams, told LETA in an interview.

He acknowledged that there are changes in alcohol consumption habits globally - the demand for spirits has increased. "Vodka is at the top of the top. It has always been at the top of the Latvian market, because we are not big drinkers of rum, whiskey or gin. But vodka is also seeing an increase in sales on the global market as well,'' he said.


Commenting on the sale of alcohol on-line, which has been permitted during the state of emergency period in Latvia, he said that it was a good time to start this. Although online sales are not high, this step is to be welcomed. "In this respect, Latvia had lagged behind other countries where it has been possible to buy alcohol on-line for quite a while," said Geidans.


According to him, on-line sales have been permitted in Europe for several years, compared to Latvia, Lithuania and Estonia, where alcohol sales on-line have only been permitted this year.


At the same time, he said that in Latvia, the sale of alcohol on-line is only in its infancy, with the whole process is being sorted out at the moment, so it is too early to judge its results - demand and real return.


Latvijas Balzams shares are quoted on the Nasdaq Riga Secondary List.






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